COSCO strikes mammoth order for 42 bulkers
COSCO Shipping Expands Fleet with Significant Bulk Carrier Order
COSCO Shipping is advancing its fleet expansion with a significant newbuilding initiative in the dry bulk sector. The Chinese state-owned shipping giant has placed orders for 42 new bulk carriers through its affiliated shipyards, COSCO Shipping Heavy Industry and CSSC Chengxi Shipyard. These contracts, split into two separate deals, are valued at over $2 billion, excluding taxes.
The COSCO Heavy yards will handle the construction of 20 vessels, including five 64,000 dwt ultramax bulk carriers, thirteen 80,000 dwt kamsarmaxes, and two slightly larger 82,000 dwt ships. Meanwhile, the remaining 22 bulk carriers, each with a capacity of 80,000 dwt, will be built by CSSC Chengxi Shipyard.
This substantial order follows closely on the heels of COSCO Shipping’s recent acquisition of a dozen 14,000 teu methanol dual-fuel containerships and eight newcastlemax bulk carriers. The newly commissioned bulk carriers are expected to be delivered between 2026 and 2027 and will be leased to companies under COSCO Shipping Bulk, further strengthening the company’s position in the global shipping industry.
